Analysts: New Government, too, will have to build its policies around the IMF arrangement

2 sep 2010 Ziarul Financiar

Romania needs to improve its credibility after the political turmoil surrounding the reshuffling, with the new Government in turn needing to build its policies around the IMF arrangement, by adopting more decisive measures, believe analysts.
"The reshuffling was needed, though not necessarily in order to change direction. The policies will need to continue to be focused around the IMF arrangement. There is no way to bypass the IMF arrangement. We have no alternative now. Unfortunately the Government's credibility has been eroded," commented analyst Aurelian Dochia.
Ionuţ Dumitru, president of the Tax Council and chief economist of Raiffeisen Bank, did not wish to comment on the decision to remove Sebastian Vlădescu from his position as finance minister, specifying that it was "a political decision", and said the mission of the next minister "would not be a simple one".
"Whoever the new finance minister will be, the terms of the IMF arrangement will have to be met. (...) The Finance Ministry is one of the most difficult ones considering the restrictions and commitments made."